Whether advance taken from customers by real estate company on which no interest has been paid will be treated as advance or deposit as per the Companies Act 2013?

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Privy Counci

As per the Rule 2(xii) of the Companies (Acceptance of Deposits) Rules, 2014, any amount received in the course of, or for the purposes of the business of the company – as advance, accounted for in any manner whatsoever, received in connection with consideration for property under an agreement or arrangement is exempted from the… Read more »

If a Company has granted stock options prior to the promulgation of the Companies Act, 2013, then whether such stock options can be exercisable by the Independent Directors?

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company

They can exercise the stock options prior to the commencement of the Companies Act, 2013; however, they shall not be entitled to have any stock option after the commencement of Companies Act, 2013. If a Company has granted stock options prior to the promulgation of the Companies Act, 2013, then whether such stock options can be exercisable… Read more »

What is companies Act 2013?

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Companies Act 2013 is an Act of the Parliament of India which regulates incorporation of a company, responsibilities of a company, directors, dissolution of a company.